Harnessing the power of legal technology can enhance the way in-house legal teams deliver legal services and optimize business processes.
Applying well-developed reference data principles to legal data is crucial for firms to unlock value from their data for business, regulatory and operational purposes.
Through embracing the business value of legal agreement data, in-house legal departments can become enablers of business optimization and legal change.
Smart contracts offer compelling benefits - from streamlining to automation of the contracting process - they have the potential to improve efficiency, reduce client costs and legal risk.
More than incurring regulatory penalties, those who ignore data protection lose out on market trust and potential for growth from having clean data and a clear understanding of their processing activities.
Read D2LT’s Akber Datoo’s view about why flexibility is the new aim of law firms here